Crean celebrates ties with China

Federal minister
Simon Crean
will use a week-long tour of China to reassure investors that Australia remains receptive to foreign capital.

The Minister for Regional Development and the Arts is in China to officially mark the 40th anniversary of diplomatic relations between the two countries.

But Mr Crean will also use the visit to speak with business groups and the country’s giant sovereign wealth fund, the China Investment Corporation. “We need to reassure them that we are open to foreign direct investment," he said from the southern city of Guangzhou. “We need to reassure them about the opportunities."

This follows a backlash in some parts of Australia to a planned $700 million agricultural investment by the Shanghai Zhongfu Group. The private Chinese company won a tender last month to develop the second stage of the Ord River irrigation scheme in Western Australia.

“That was very significant and shows the opportunities in Australia," Mr Crean said.

He arrived in China over the weekend and will officially mark the 40th anniversary of relations at a dinner on Friday in Beijing.

Prime Minister
Julia Gillard
will hold a dinner in Canberra on Wednesday night to celebrate the milestone. China’s highest-ranking female politician, Liu Yandong, will be in Canberra for the dinner.

China and Australia officially commenced diplomatic relations on December 21, 1972, with an agreement signed in Paris.

Related Quotes

Company Profile

Mr Crean first visited Beijing in 1992 and his family retains a strong connection with China.

“My father, Frank Crean, as treasurer, was a member of Australia’s first high-level government delegation to the People’s Republic of China under the leadership of then prime minister
Gough Whitlam
," Mr Crean said.

“In 2002, as Labor Party leader, my first overseas visit was to China to initiate closer political dialogue and exchange between the two countries. As trade minister in 2008, I made the first of many visits to China to progress Australia’s trade and investment ties with China."